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Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
 Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
The company, which is already the world's largest producer of low volatile pulverised injection coal, is seeking to boost production and widen its offering to take advantage of strong Asian demand for steelmaking and steam coal.
Macarthur will offer 0,84 of its own shares or A$8 a share for each Gloucester share in two separate offers, the firm said on Tuesday. The share portion is worth A$8,16 apiece based on Macarthur's closing price on Monday.
Noble Group, which is Gloucester's biggest shareholder, with 87,7%, has indicated it will support the proposal.
Further, Gloucester's independent directors said that, in the absence of a better proposal, and subject to an independent report on the fairness of the offer, they will unanimously recommend Macarthur's bid for the company.
Macarthur also said that it is in talks with Noble to buy its interest in the Middlemount mine joint venture, in central Queensland, and for a majority stake (likely 79,9%) in Donaldson Coal, which has operations in the Hunter Valley.
Noble currently owns 25,34 of Middlemount and Macarthur holds the balance.
Altogether, if the Middlemount and Donaldson transactions are completed, Macarthur will pay Noble A$175-million and 22,5-million of its shares.
Macarthur said the deals being proposed would make it Australia's leading independent coal producer, with a market capitalisation of about A$3,4-billion.
The company would have six operating mines in two states, shipping through two coal terminals.
“The proposed transactions will create a great Australian coal company,” said Macarthur chairperson Keith DeLacy.
“Gloucester and Macarthur shareholders will have exposure to high-quality producing coal miners in three separate coal basins, with strong growth potential.”
Noble, which is part owned by China Investment Corporation, said that it will take shares in Macarthur rather than cash if it accepts the Gloucester offer.
If all the transactions are completed, it will hold 23% of the merged company.
“The combination of these highly complementary assets will provide Noble with exposure to what will be the largest independent coal producer in Australia, a critical supplier to the Asian growth markets,” said Noble CEO Richard Elman.
The company acquired its majority stake in Gloucester in May this year for A$7 a share.
Source: Mining Weekly / Liezel Hill
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Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
Tuesday, 12 January 10
COAL PRICE FORECAST RAISED AT ANZ ON STRONGER CHINESE DEMAND
Power-station coal price forecasts for this year were raised 19 percent by Australia & New Zealand Banking Group Ltd. on rising demand from Chin ...
Tuesday, 12 January 10
BUMIS SALE CONTRACT ONLY REACHED 35 PERCENT
PT Bumi Resources has only completed 35 percent if its coal sale contract this year. “More than 65 percent of our sale volume did not have a c ...
Monday, 11 January 10
THE MARKET IS LIKELY TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market for the first week of the year was quite active and the market especially in the Panamax and Supramax s ...
Monday, 11 January 10
CHINAS COAL EXPORT MAY DECLINE 50% IN 2009
Preliminary data released by China's General Administration of Customs (GAC) on Wednesday showed that China's coal export reached 2.05 million ton ...
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- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Australian Coal Association
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
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